Frustrated by the polarised debate on human-caused climate change Gareth Morgan and John McCrystal set out to evaluate the evidence for themselves. On the basis of this book, they apear to have been relentlessly open-minded in this quest…and in the end, they conclude that yes, we do need to be concerned. It is totally against the spirit of the book to point this out – but Gareth Morgan is noted for coming to his views independently and skeptically, plus he is an economist and – all other things being equal 🙂 – reasonably fond of economic growth – so if he thinks human-caused climate change is an issue we need to take seriously, it really is most likely that we do. But read the book – it ought to be convincing for anyone with an open-mind.
Morgan and McCrystal also take some shots at greenies and environmentalists for taking an irresponsible role in this debate, muddying the science with their keen-ness to use it when it suits to butress attacks on consumerism and capitalism that are primarily ideological (don’t worry they also take aim at fossil-fuel industry-funded deniers).
I think this criticism raises some valuable points for the green/environmental movement.
The collective wisdom of capital markets is probably still ‘in some doubt’ in many peoples’ minds at the moment. Interestingly though, from a green perspective, capital markets appear to have been estimating the likely costs of climate change to be higher than those predicted by cost-benefit analyses (such as the Stern Report) that have been much maligned by some industry lobby groups. And, of course, this implies that – even from a purely economic point of view – there is a case for stronger climate change mitigation policies than have been suggested by the cost-benefit analyses.
This is a general election year here in Aotearoa New Zealand and the election will hold the much of the attention of New Zealand’s political junkies. In some respects, though, even for New Zealanders the US presidential election taking place in November is of far more consequence.
I’m thinking in particular of the issue of global warming. Because the US generates around 22% of global CO2 output (2004 data, available here), the decisions of the next US president will – in one way or another – have a critical impact on the issue of climate change. Whether he or she takes action on global warming or follows the lead of GW Bush and places her or his head firmly in the sand, the outcome will affect just about everyone on the planet.
Economics, environment, and humour!
Chan Akya tells us how he really feels about Greens, Central Bankers, and the U.S. Administration, and makes some good points.
At AsiaTimes Online “How Central Bankers Could Save the World”: http://www.atimes.com/atimes/Global_Economy/IL08Dj02.html
(New link too long for WordPress link funtion, apparently)